World Politics News   Articles for World Politics Course

The Bank of Japan, like the US Federal Reserve and the European Central Bank, has been following a policy of quantitative easing in an attempt to stimulate the Japanese economy.  One of the consequences of these policies is that it can lead to currency devaluation because buyers of the currency fear that the loose money policies will lead to an oversupply of the currency.  Currency devaluations can lead, however, to an unfair advantage in trade since the country’s exports will be artificially cheaper.  Such policies are considered violations of free trade policies, and the US government has, for the first time, made that charge against Japan.  This rift only adds to more difficulties for the Japanese.

The National Oceanic and Atmospheric Administration has issued a report that suggests that the Arctic will be ice-free by the middle of this century, and perhaps even sooner.  Not only will this change lead to unanticipated changes in the climate, it will probably open up the Arctic to balance of power politics as nations will likely compete for the resources in the region.  This consequence is the result of sowing the wind.

Paul Pillar used to work for the State Department, but has written extensively on the Iraq war and on the Iranian negotiations, often in terms quite critical of the US.  He was also a friend of mine at Dartmouth.  His recent essay on the Iranian negotiations asks some very important questions about what the US is trying to accomplish in the most recent negotiations with Iran.